Variables

Northern Africa

Western Africa

OPEN1

OPEN2

OPEN3

OPEN4

OPEN1

OPEN2

OPEN3

OPEN4

OPEN’

1.518***

1.297***

1.133***

0.580***

−0.199**

−0.379***

0.0991

−0.0822**

(0.145)

(0.198)

(0.113)

(0.0887)

(0.0940)

(0.0841)

(0.0821)

(0.0388)

InGFCF

−0.649***

−0.892***

−0.609***

−0.892***

0.183**

0.222***

0.161*

0.183**

(0.174)

(0.204)

(0.178)

(0.204)

(0.0833)

(0.0816)

(0.0833)

(0.0833)

InLAB

0.158***

0.0822

0.0711

0.0822

0.00406

−0.0336

0.0290

0.00406

(0.0582)

(0.0708)

(0.0551)

(0.0708)

(0.0270)

(0.0277)

(0.0257)

(0.0270)

InEXC

0.0284

0.0448

0.0509

0.0448

−0.0313*

−0.0296*

−0.0281

−0.0313*

(0.0434)

(0.0514)

(0.0440)

(0.0514)

(0.0176)

(0.0171)

(0.0177)

(0.0176)

InFD

−0.129*

−0.232**

0.0992

−0.232**

0.484***

0.493***

0.443***

0.484***

(0.0747)

(0.108)

(0.0678)

(0.108)

(0.0480)

(0.0461)

(0.0491)

(0.0480)

InFDI

−0.915***

−1.078***

−0.739***

−1.078***

0.0574

0.156*

−0.0171

0.0574

(0.153)

(0.184)

(0.156)

(0.184)

(0.0841)

(0.0844)

(0.0793)

(0.0841)

InCPI

1.042**

−0.252

1.313**

−0.252

0.582

0.757

0.242

0.582

(0.495)

(0.549)

(0.519)

(0.549)

(0.504)

(0.488)

(0.505)

(0.504)

Const.

−1.128

8.934***

0.205

13.47***

3.176

3.139

3.465

2.354

(2.834)

(2.905)

(2.834)

(2.582)

(2.093)

(2.036)

(2.109)

(2.137)

Observations

133

133

133

133

285

285

285

285

R-squared

0.647

0.505

0.632

0.505

0.427

0.457

0.421

0.427

F statistics

32.70

18.24

30.71

30.71

29.48

33.37

28.74

28.74